People: Morgan Stanley announces cuts in equity and forex

Morgan Stanley cuts at least 20 jobs in forex and equity derivatives; RBS fixed income head Rading departs; commodities head Silbert leaves Deutsche


Morgan Stanley is parting ways with a significant number of traders and salespeople in its equity and foreign exchange derivatives businesses, following the recent decision to cut 1,600 jobs across the firm. The US bank joins Royal Bank of Scotland, UBS and Citi on a long list of institutions that are shedding investment banking and trading staff.

At least seven members of Morgan Stanley’s forex team are leaving, including: Kelvin Hebburn, managing director for foreign exchange trading; Eric

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